Enter a starting deposit, an optional monthly deposit, the APY your bank shows and a term in years. The calculator estimates your ending balance and how much of it is interest. It starts empty and does not assume any rate.
Your savings
Estimated balance
Enter your numbers to see an estimate.
- Ending balance
- Total deposits
- Interest earned
Estimate only. Not an offer, and not financial advice. Your bank's disclosures control.
Assumptions
- The APY stays the same for the whole term. Savings APYs are often variable and can change at any time.
- Interest compounds monthly at the rate that equals your APY over a year: (1 + APY)^(1/12) − 1.
- Monthly deposits are made at the end of each month, starting in month 1.
- No taxes, fees or withdrawals.
The calculator runs in your browser. We do not store or send the numbers you enter.
How APY works here
APY (annual percentage yield) is the yearly return including compounding, as defined in Regulation DD. Because the APY already includes compounding, the calculator uses the monthly rate that grows to exactly the APY over 12 months. A $10,000 deposit at 4.00% APY with no other deposits ends the first year at $10,400.
What the estimate does not include
- Rate changes. Many savings APYs are variable.
- Taxes on interest, account fees, minimum-balance rules or withdrawals.
- Deposit insurance limits: FDIC insurance covers up to the standard limit per depositor, per insured bank, per ownership category (FDIC).
General information, not financial advice.
Sources
- Regulation DD § 1030.2 Definitions (annual percentage yield), Consumer Financial Protection Bureau (accessed October 30, 2026)
- Understanding Deposit Insurance, Federal Deposit Insurance Corporation (accessed October 30, 2026)
General information only; not financial, legal or tax advice. Moneysilk is not a lender and does not make credit decisions. Read our editorial standards and corrections policy.